AGCO Reports Fourth Quarter Results

AGCO, Your Agriculture Company (NYSE:AGCO), a worldwide manufacturer and
distributor of agricultural equipment, reported net sales of
approximately $2.

Losses on sales of receivables associated with the accounts receivable financing facilities discussed above, reflected within “Other expense, net” in the Company’s Condensed Consolidated Statements of Operations, were approximately $5.4 million and $21.8 million during the three months and year ended December 31, 2012, respectively. Losses on sales of receivables associated with the accounts receivable financing facilities reflected within “Other expense, net” and “Interest expense, net” in the Company’s Condensed Consolidated Statements of Operations were approximately $6.4 million and $22.0 million during the three months and year ended December 31, 2011, respectively.

The Company’s retail finance joint ventures in Brazil and Australia also provide wholesale financing to the Company’s dealers. As of December 31, 2012 and 2011, these retail finance joint ventures had approximately $100.6 million and $62.0 million, respectively, of outstanding accounts receivable associated with these arrangements. In addition, the Company sells certain trade receivables under factoring arrangements to other financial institutions around the world.

5.NET INCOME PER SHARE

The Company’s convertible senior subordinated notes provide for (i) the settlement upon conversion in cash up to the principal amount of the converted notes with any excess conversion value settled in shares of the Company’s common stock, and (ii) the conversion rate to be increased under certain circumstances if the notes are converted in connection with certain change of control transactions. Dilution of weighted shares outstanding will depend on the Company’s stock price for the excess conversion value using the treasury stock method. A reconciliation of net income attributable to AGCO Corporation and subsidiaries and weighted average common shares outstanding for purposes of calculating basic and diluted net income per share for the three months and years ended December 31, 2012 and 2011 is as follows:

Three Months Ended December 31,

Years Ended December 31,

2012

2011

2012

2011

Basic net income per share:

Net income attributable to AGCO

Corporation and subsidiaries

$

102.5

$

285.2

$

522.1

$

583.3

Weighted average number of

common shares outstanding

96.9

97.1

97.1

95.6

Basic net income per share attributable to

AGCO Corporation and subsidiaries

$

1.06

$

2.94

$

5.38

$

6.10

Diluted net income per share:

Net income attributable to AGCO

Corporation and subsidiaries for

purposes of computing

diluted net income per share

$

102.5

$

285.2

$

522.1

$

583.3

Weighted average number of common

shares outstanding

96.9

97.1

97.1

95.6

Dilutive stock options, SSARs,

performance share awards and

restricted stock awards

1.0

0.9

1.0

0.6

Weighted average assumed conversion of

contingently convertible senior

subordinated notes

0.6

0.2

0.5

1.9

Weighted average number of common

and common equivalent shares

outstanding for purposes of

computing diluted net income per

share

98.5

98.2

98.6

98.1

Diluted net income per share attributable to

AGCO Corporation and subsidiaries

$

1.04

$

2.90

$

5.30

$

5.95

6.SEGMENT REPORTING

Effective January 1, 2012, the Company modified its system of reporting, resulting from changes to its internal management and organizational structure, which changed its reportable segments from North America; South America; Europe/Africa/Middle East; and Rest of World, to North America; South America; Europe/Africa/Middle East; and Asia/Pacific. The Asia/Pacific reportable segment includes the regions of Asia, Australia and New Zealand, and the Europe/Africa/Middle East segment will now include certain markets in Eastern Europe. Effective January 1, 2012, these reportable segments are reflective of how the Company’s chief operating decision maker reviews operating results for the purposes of allocating resources and assessing performance. Disclosures for the three months and year ended December 31, 2011 have been adjusted to reflect the change in reportable segments.